PBB earnings up 38% to P610Mhome/Business/Corporate News/PBB earnings up 38% to P610MDESPITE headwinds, Philippine Business Bank’s (PBB) net profit increased to P610.2 million in the nine months ending September, which its chief partly attributed to the change in the lender’s focus. In a disclosure on Thursday, PBB said the amount was a 38.6-percent jump from P440.3 million in the same period last year. The 38.6-percent growth in net profit year-on-year underscores the bank’s transformation from a treasury-focused institution to a full-service thrift bank,” PBB President and Chief Executive Officer Roland Avante said. “The bank continues to show strength despite increasing global market uncertainties, domestic challenges and accelerating inflation,” Avante noted. According to him, the bank continues to explore operational improvements to serve small and medium enterprises (SMEs) better.

Source: Manila Times November 16, 2018 17:15 UTC